March 25, 2021
Jolt Capital invests an additional round of €6M in INTEREL, a leader in smart building IoT solutions
A leading player in the field of deep tech, B2B growth private equity in Europe, Jolt Capital announces a complementary round of funding of €6M in INTEREL, a leader in the smart and sustainable building technology space.
Over the last 10 years INTEREL has established itself as an innovator in the field of intelligent hospitality room control solutions focused on reducing energy consumption, optimizing operations and providing better experiences for users.
In 2019, the company achieved a record year with over 30% of profitable growth and despite the Covid-19 pandemic, was able to maintain robust results with increased profitability in 2020, owing to its innovative product line, wide regional coverage and market expansion into new verticals.
Florian Gallini, CEO of INTEREL, is pleased to « count on the renewed trust from Jolt Capital » and said that « the smart building space offers significant opportunities and INTEREL has a clear roadmap to take advantage of the trend towards making living spaces more intelligent and sustainable. »
The €6M funding will enable the company to accelerate the implementation of several strategic initiatives, such as the continued expansion into the North American region, growing a recently signed partnership with a major global player in energy and automation, broadening its offering into adjacent markets, and developing new features centered around its recently launched low-cost EOS Wi-Fi thermostat platform.
« We are convinced our additional financial contribution will allow INTEREL to open new markets such as student housings, retirement homes or condominiums. » said Jean Schmitt, managing partner of Jolt Capital and board member of INTEREL.
About INTEREL
INTEREL creates intelligent sustainable environments and is on a mission to empower companies that create smart living experiences, to use their and the world’s resources more efficiently by connecting utilities, things, and people through the best technology ecosystem. INTEREL’s smart building ecosystem consists of a beautifully crafted hardware portfolio of smart thermostats and room control devices, powered by INTEREL OS and its integrations. Together these products and services provide customers and partners a solution to retrofit, merge and virtualize, what otherwise would be several difficult to manage, siloed CAPEX investments. With 500.000 devices installed, INTEREL solutions have created smarter and more sustainable buildings in over 45 countries across the world.
About Jolt Capital
Jolt Capital provides growth equity financing to European B2B technology companies about to go global and with current revenue from €15m to €50m. Led by seasoned investors and former C-level executives, Jolt Capital actively drives portfolio companies’ expansion and exits. Jolt Capital’s proprietary AI platform, Jolt.Ninja, exponentially improves mapping of Europe’s technology ecosystem, ESG-compliant deal flow generation, due diligences and post-investment activities.